LandSec Lets 41,400 SF to Deloitte on City Fringe

LONDON-Deloitte & Touche has agreed to take space at another building in Land Securities’ New Street Square development here. The management consultant already has a lease at the complex’s Building B, which comprises 209,360 sf of offices over 10 floors. In this latest move, the tenant has exercised its option over Building C, delivering an additional 41,400 feet. The rent has not been disclosed. Both buildings will be ready for fit-out in the Summer of 2007.

“This is further vindication that New Street Square is well suited to the large professional services occupier,” comments Mike Hussey, Land Securities’ managing director. “The development will breathe new life into this commercial district.”

The Bennetts Associates design replaces an assortment of postwar office blocks with four contemporary office buildings, all of which open onto a new, landscaped central square lined by shops and cafes. The Deloitte lease leaves approximately 382,000 sf of office and about 30,000 feet of retail available for pre-let.

CB Richard Ellis acted for Land Securities, and Jones Lang LaSalle advised Deloitte. The two brokerage firms are the joint leasing agents for the development. This is the second major lease Land Sec has inked over the past few weeks. In late October, he firm signed two separate deals totaling 39,200 sf at its new City of London office building.